Houston we have a problem called revenue.I think the issue with...

Houston we have a problem called revenue.

I think the issue with the share price now is the reality of the revenue delay and funding to be resolved.

We have had 9 months delay by the EMEA when you go right back to the oral presentation the company did in January and received only a half approval in the end.
This also delayed the FDA application.

I have looked at the presentation today and what concerns me is the timing of launches in Europe for adults on top of the cost and delay of another trial for Children and teens.

The top 5 markets in Europe expect launching in

UK/Germany - Q2 2012
France - Q4 2012
Italy - Q1 2013
Spain - Q3 2013

Why would Spain be almost 2 years away?
Another concern is Aridol has been approved for years but still no sales in Germany as they cannot agree on reimbursement. Could this happen to say Bronchitol in Spain?

Also will the EMEA take the full 270 days after lodgement to review the results in Children and teens when the trials are done? If they did we could be looking at 2 years before Children are approved by the time you add trial design, recruitment time, study time and application.

I have been in PXS for 7 years but my buy sentiment is moving out to LT LT LT Buy as it looks like we may have several more years to see any major revenue going off the presentation today.

Just my thoughts.